ZIM Integrated Shipping Services Ltd. announced Tuesday it has entered into new long-term charter agreements for ten 11,500 TEU liquefied natural gas (LNG) dual-fuel container vessels. The total charter hire consideration for these agreements is approximately $2.3 billion, and the vessels will serve across ZIM's various global trade routes.

Seven of the vessels will be chartered to ZIM by Containers Ventures Holdings Inc., an affiliate of the TMS Group. The remaining three vessels will be chartered by a shipping company affiliated with Kenon Holdings, Ltd., which was ZIM's largest shareholder until the end of 2024.

The newbuild vessels will be constructed at Zhoushan Changhong Shipyard in China, with deliveries expected between 2027 and 2028.

Eli Glickman, ZIM President & CEO, stated that these agreements further advance the company's fleet strategy by securing long-term charters for these 11,500 TEU LNG dual-fuel containerships. He noted that this ensures access to a crucial vessel segment and strengthens ZIM's core LNG fleet, which he described as a critical commercial differentiator.

"Importantly, this versatile capacity is ideally suited for ZIM's various global trades, enhancing our commercial agility and growth potential," Glickman said in a statement.

He further emphasized that expanding ZIM's LNG fleet supports the company's decarbonization objectives and solidifies its position as an industry leader in carbon intensity reduction. Glickman added that operating LNG capacity has proven commercially advantageous for ZIM, and the company anticipates increased demand for environmentally friendly shipping options, making access to LNG capacity even more beneficial in the future.

"The addition of these ten LNG dual-fuel vessels will help keep our modernized fleet competitive and support profitable growth over the long term, benefiting our shareholders," Glickman concluded.

The acquisition of these ten LNG dual-fuel vessels follows ZIM's receipt of 46 newbuilds contracted in 2021 and 2022, which significantly improved the efficiency of its operated capacity. This latest move underscores ZIM's commitment to modernizing its fleet, enhancing operational efficiency, and pursuing environmentally sustainable shipping solutions. The long-term charters provide ZIM with predictable costs and access to modern, fuel-efficient vessels that can adapt to various global trade demands.

Established in Israel in 1945, ZIM is a prominent global container liner shipping company, operating in over 100 countries and serving around 33,000 customers across more than 330 ports worldwide. The company combines advanced digital strategies with a strong commitment to ESG principles to deliver innovative seaborne transportation and logistics solutions, along with an exceptional customer experience. ZIM's unique global-niche approach—driven by agile fleet management and strategic deployment—focuses on key trade routes and select markets where it maintains a competitive edge.